The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1887-08-06

Oh bectlOH tWenty-elgnt, 1882, anu Is eX-
ploring the property. Raher 4 James
hold the option proper and il is under
stood that Mr.. Crandall is TO give them
S13,50O for il provided his work shows
it up to be worth that amount, and
there is no question i'm the minds of min
ing men, but that is little enough for 40
valuable a find. 1t will he remembered
that Mr.. James explored this property
last year then known AZ the Home. A
tunnel was run into the bank from the
river distance OF seventy feet when a
Wine was put down which bottomed on
the ore. 1t was then Abandoned until
early the present summer when Frank
Scadden took an option and did some
exploring further up the track and near
er town. The result OF his exploration
was the finding Of a body OF hard blue
ore. Mr.. Scadden had made all the
necessary arrangements TO dispose of the
property TO outside capitalists, but
they backed down, his option ran out
before he could get Others interested and
il reverted TO the original option holders.
About month ago Mr.. Crandall took
hold Of it and is rapidly showing it up.
a shaft has been put down forty feet,
twenty-five OF which is in good ore. The
ore on top is steely hard, but becomes
softer IA debth il attained. The shaft
will be lowered about twenty feet when
prosecuting and drifting viii be com
menced. Test pits along the formation
shows u continuous vein OF ore half
mile long and almost parallel with the
railroad track The width OF the vein is
supposed To be about forty feet. Mr..
Crandal will thoroughly explore the find
and aitergetting il SO that its magnitude
can be seen will dispose Of It, The land
is owned by the Breitung estate.
There has been break in vessel rates
during the week which no doubt will
make itself felt i'm the ore market. 1t il
too early, however. to speculate upon
the results at this time. 1t is estimated
that nearly sixty boats, with an aegre-
gate capacity Of about 60, 000gross tons,
will be liberated by the expiration OF
charters about September 10, and the
chances are that a further reduction OF
rates may be expected ut any time. No
ported during the week and dealers
hesitate about quoting prices because OF
the absence OF sales. "As soon as ore
will be in the markets again." said one
gentleman land as soon as we know
what we can get for il, we will be able TO
make quotations" The receipts during
the week amounted Go 56,0SO tons rs
against 2,562 tons during the cores
pondine week in 1886. The weeks ship
ments were 0,OI6 tons, compared with
23,96i tons shipped in the correspond
ing week OF 1886. We quote without
change:
No l specuar and magnetic Bcssc-
mer ores per tom. ................"".s7 oO@I 90
No Specular (non-Besscmerl ores -
Bessemer Hemntites..................... 1890 90
Non Bessemer Hematites............. 8 0O@5 10
Cleveland Iron Trade Review.
The Monitor mine on section twenty,
1892, is looking well. The main shaft
l. now down about seventy feet, thirty
feet Of which is in good ore The work
is still confined 60 sinking and will he
continued until depth OF about one
hundred feet IL attained, when il is ex-
pected the machinery will he in place
and stopeing commenced. The machin-
cry was ordered some time ago but has
not vet arrived. which has somewhat re-
taroed the work Of development; IL be-
ing quite difficult 60 work n property
with bucket and windlass after IL has at
tanned such depth. The ore which was
broken i'm sinking the shaft IL "a very
clear brown hematite and analyses show
IL to carry over sixty-nine per cent. me-
tallic iron. IL will be remembered that
the Monitor mine is Immediately west oil
the Paint River mine and H. "a continun-
ton Of that vein, having AN east and
west course. The width of the Monitor
vein IL at present unknown, but Is sup
posed 10 be no less than fifty or more
feet wide from the fact that "B" shaft at
the Paint River mine shows the vein TO
be nearly that wide at that point and
spreading out as il extends westward.
81 Hollister, Sr., is systematically
exploring the southeast quarter OF
the southeast quarter OF section
fourteen and the west hall Of the
southwest quarter OF section thirteen,